{"id":182111,"date":"2021-04-06T11:52:39","date_gmt":"2021-04-06T09:52:39","guid":{"rendered":"https:\/\/highxtar.com\/?p=182111"},"modified":"2021-04-06T11:54:25","modified_gmt":"2021-04-06T09:54:25","slug":"nike-pays-no-federal-income-tax-for-the-last-three-years","status":"publish","type":"post","link":"https:\/\/highxtar.com\/en\/nike-pays-no-federal-income-tax-for-the-last-three-years\/","title":{"rendered":"Nike pays no federal income tax for the last three years"},"content":{"rendered":"

The fact that Nike has not paid any federal income tax for the past three years, despite earning some $4.1 billion in profits, has shocked everyone from the public to the political sphere. We explain why.<\/strong><\/p>\n

\"La<\/p>\n

The US giant<\/strong><\/a> was only one of a handful of companies that were able to legally avoid paying income tax, according to the New York Times<\/strong>. “This continues a decades-long trend of corporate tax avoidance by America’s largest companies<\/strong>,” notes the Institute on Taxation and Economic Policy (ITEP). “The tax-dodging companies represent several industries and collectively enjoyed nearly $40.5 billion in pre-tax income in the US in 2020.”<\/p>\n

ON TAX EVASION\u00a0<\/strong><\/h5>\n

This tax avoidance by several companies has been made possible by the Tax Reform Plan<\/strong> passed in 2017<\/strong> by Trump<\/strong>‘s Republican majority. That reform allowed them to cut their tax bill<\/strong>, reducing the corporate tax rate from 35% to 21%. In this way, Nike and other corporations of its caliber discovered that they could also use tax breaks for executive stock options to drastically reduce their income taxes.<\/p>\n

According to ITEP<\/strong>, “Nike paid not one cent of federal income tax on nearly $2.9 billion in pre-tax income in the United States last year, enjoying a $109 million tax break instead<\/strong>“.<\/p>\n

Bernie Sanders<\/strong><\/a> also wanted to weigh in (and ironically) on Nike’s tax avoidance on Twitter: “If you paid $120 for a pair of Nike AF1 shoes, you paid more to Nike than it paid in federal income taxes over the last 3 years, while it made $4.1 billion in profits and Nike founder Phil Knight<\/strong> became over $23 billion richer.” Amen to that.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nike has not paid any federal income tax for the past three years. We explain the reasons why it has not done so.<\/p>\n","protected":false},"author":2,"featured_media":182104,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2108,603],"tags":[616,703],"class_list":["post-182111","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-culture","category-fashion-en","tag-laura-perez-en","tag-nike-en"],"acf":[],"yoast_head":"\nNike pays no federal income tax for the last three years - HIGHXTAR.<\/title>\n<meta name=\"description\" content=\"Nike has not paid any federal income tax for the past three years. 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We explain the reasons why it has not done so.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/highxtar.com\/en\/nike-pays-no-federal-income-tax-for-the-last-three-years\/\" \/>\n<meta property=\"og:site_name\" content=\"HIGHXTAR.\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/highxtar\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-06T09:52:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-06T09:54:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/highxtar.com\/wp-content\/uploads\/2021\/04\/thumb-nike-no-paga-impuestos-federales-renta-ultimos-tres-anos.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Laura P\u00e9rez\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@highxtar_\" \/>\n<meta name=\"twitter:site\" content=\"@highxtar_\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Laura P\u00e9rez\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/highxtar.com\/en\/nike-pays-no-federal-income-tax-for-the-last-three-years\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/highxtar.com\/en\/nike-pays-no-federal-income-tax-for-the-last-three-years\/\"},\"author\":{\"name\":\"Laura P\u00e9rez\",\"@id\":\"https:\/\/highxtar.com\/#\/schema\/person\/a62803322cc288dffbdf6539d02d8c51\"},\"headline\":\"Nike pays no federal income tax for the last three years\",\"datePublished\":\"2021-04-06T09:52:39+00:00\",\"dateModified\":\"2021-04-06T09:54:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/highxtar.com\/en\/nike-pays-no-federal-income-tax-for-the-last-three-years\/\"},\"wordCount\":272,\"publisher\":{\"@id\":\"https:\/\/highxtar.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/highxtar.com\/en\/nike-pays-no-federal-income-tax-for-the-last-three-years\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/highxtar.com\/wp-content\/uploads\/2021\/04\/thumb-nike-no-paga-impuestos-federales-renta-ultimos-tres-anos.jpg\",\"keywords\":[\"Laura P\u00e9rez\",\"Nike\"],\"articleSection\":[\"Culture\",\"Fashion\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\/\/highxtar.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/highxtar.com\/en\/nike-pays-no-federal-income-tax-for-the-last-three-years\/\",\"url\":\"https:\/\/highxtar.com\/en\/nike-pays-no-federal-income-tax-for-the-last-three-years\/\",\"name\":\"Nike pays no federal income tax for the last three years - HIGHXTAR.\",\"isPartOf\":{\"@id\":\"https:\/\/highxtar.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/highxtar.com\/en\/nike-pays-no-federal-income-tax-for-the-last-three-years\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/highxtar.com\/en\/nike-pays-no-federal-income-tax-for-the-last-three-years\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/highxtar.com\/wp-content\/uploads\/2021\/04\/thumb-nike-no-paga-impuestos-federales-renta-ultimos-tres-anos.jpg\",\"datePublished\":\"2021-04-06T09:52:39+00:00\",\"dateModified\":\"2021-04-06T09:54:25+00:00\",\"description\":\"Nike has not paid any federal income tax for the past three years. 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